4 Best Brokerage Accounts for High Interest Rates: 4%+
You can still earn over 4% on uninvested cash in your brokerage account. But to do so, you have to choose a broker with a high cash sweep rate, like those listed here.
+ 1 more
Many or all of the products on this page are from partners who compensate us when you click to or take an action on their website, but this does not influence our evaluations or ratings. Our opinions are our own.
The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.
Why trust NerdWallet
Our deep, independent analysis of brokers sorts through key account details to find and evaluate the information investors want when choosing a brokerage firm. To see our full methodology and learn more about our process, read our criteria for evaluating brokers and for evaluating robo-advisors.
Over 60 investment account providers reviewed and rated by our expert Nerds.
More than 50 years of combined experience writing about finance and investing.
Hands-on testing of the account funding process, broker websites and stock-trading platforms.
Dozens of objective ratings rubrics, and strict guidelines to maintain editorial integrity.
With the Federal Reserve slowing its approach to cutting interest rates, there's still time for investors to capitalize on the opportunity to earn more interest from uninvested cash — as you'll see below, rates remain relatively high.
Interest on uninvested cash is often referred to as a "cash sweep," which is just what it sounds like — some brokers sweep your cash into high-yield options. The key word is "some" — many do not, which typically means they're earning interest on your cash rather than passing it along to you.
In NerdWallet's analysis, the below brokers offered the highest APYs or yields on idle cash.
Note: Interest rates below are accurate as of May 1, 2025.
Best Brokerage Accounts for High Interest Rates: 4%+
| Broker | NerdWallet rating | Fees | Account minimum | Promotion | Learn more |
|---|---|---|---|---|---|
4.5/5 | $0 per trade | $0 | 1 Free Stock after linking your bank account (stock value range $5.00-$200) | Learn moreon partner's site on Robinhood's website | |
4.4/5 | $0 per trade | $0 | None no promotion available at this time | Learn moreon partner's site on Vanguard's website | |
5.0/5 | $0 per trade | $0 | Get 20 free fractional shares (each valued up to $3,000) when you open and fund an account with Webull. | Learn moreon partner's site on Webull's website | |
4.6/5 | $0 | $0 | Earn up to $10,000 when you transfer your investment portfolio to Public. | Learn moreon partner's site on Public's website |
Fees
$0
per trade
Account minimum
$0
Promotion
1 Free Stock
after linking your bank account (stock value range $5.00-$200)
Our Take
Commission-free stock, options and ETF trades.
Streamlined interface.
Cryptocurrency trading.
IRA with 1% match (3% for Gold members).
High interest rate on uninvested cash.
No mutual funds.
Little third-party research.
Current 4% APY (as of May 1, 2025) requires $5 a month Robinhood Gold subscription and carries FDIC insurance of up to $2 million.
Fees
$0
per trade
Account minimum
$0
Promotion
None
no promotion available at this time
Our Take
Commission-free stock, options and ETF trades.
Leader in low-cost mutual, index and exchange-traded funds.
High interest rate on uninvested cash.
High order execution quality.
Basic trading platform only.
Limited research and data.
No fractional shares for stocks.
Vanguard's default cash sweep fund is the Vanguard Federal Money Market Fund, which is currently yielding 4.23% (as of May 1, 2025).
Fees
$0
per trade
Account minimum
$0
Promotion
Get 20 free fractional shares (each valued up to $3,000)
when you open and fund an account with Webull.
Our Take
Commission-free stock, options and ETF trades.
Easy-to-use platform.
Advanced tools.
High interest rate on uninvested cash.
High order execution quality.
No mutual funds.
Separate app required to trade crypto.
Webull Premium clients earn 4.1% APY (as of May 1, 2025). Others earn 3.75% APY if account value exceeds $25,000, and 0.50% APY on account values below that. Webull Premium subscription costs $3.99 per month or $40 per year.
Fees
$0
Account minimum
$0
Promotion
Earn up to $10,000
when you transfer your investment portfolio to Public.
Our Take
Commission-free stock, options and ETF trades.
Rebates for trading options.
Easy-to-use signup and trading interface.
High interest rate on uninvested cash.
No mutual funds.
Lack of tools (e.g. customizable investment screeners).
Users can opt into Public's high-yield cash account, which currently pays 4.1% (as of May 1, 2025).
Brokerage accounts vs. bank accounts for earning interest
While these brokers pay interest similar to what you'd receive in a savings account, there are a number of differences to be aware of, including deposit insurance and features.
Deposit insurance
Savings accounts are insured by the Federal Deposit Insurance Corp. (FDIC), which protects up to $250,000 per person, per bank.
All five brokerages above are members of the Securities Investor Protection Corp. (SIPC), which protects up to $500,000 per person (up to $250,000 in cash), per brokerage account in the event that the broker becomes insolvent.
However, SIPC coverage doesn't protect the value of money market funds, such as those that Vanguard sweep funds into by default. In other words, SIPC coverage doesn't necessarily cover the exact dollar amount of cash in a brokerage account the way FDIC coverage does in a savings account.
Is a brokerage account a good place to earn interest?
Bill Hampton, a financial consultant based in Atlanta, says that brokerage accounts can be good places to earn interest — for savers who don’t need immediate access to their money.
However, Hampton says that some brokerage accounts have limitations. “For instance, some do not offer the ability to write checks like a bank would. Some limit the amount of transactions you can make in a particular month,” Hampton says.
“A client would have to determine if it’s a long-term savings account that they’re not going to touch for six months or a year, or if it’s going to be an emergency fund that they don’t plan to utilize. If it’s going to be their regular account that they move cash in and out of, they may want to check with the restrictions that each brokerage firm has,” Hampton says.
He points out that many accounts are limited to six transactions per month, which is “plenty in most cases.”
Hampton says that despite these limitations, brokerage accounts can still be a viable option for savers who are seeking high yields and don’t need to touch their money several times a week.
“If individuals or clients can find better rates at a brokerage firm than at their local bank, which is most likely, then that’s a very good opportunity to earn a high interest rate,” he says.
Last updated on May 1, 2025
Methodology
NerdWallet’s comprehensive review process evaluates and ranks the largest U.S. brokerage firms by assets under management, along with emerging industry players. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgements on which ones will best meet your needs. We adhere to strict guidelines for editorial integrity.
We collect data directly from providers through detailed questionnaires, and conduct first-hand testing and observation through provider demonstrations. The questionnaire answers, combined with demonstrations, interviews of personnel at the providers and our specialists’ hands-on research, fuel our proprietary assessment process that scores each provider’s performance across more than 20 factors. The final output produces star ratings from poor (one star) to excellent (five stars).
For more details about the categories considered when rating brokers and our process, read our full methodology.